Psychedelics Transition from Experimental Treatment to Major Pharmaceutical Industry - Seite 2

The company also bolstered its leadership team with the appointment of its new Chief Medical Officer, Dr. Rakesh Jetly, a medical advocate for the use of psychedelic-assisted psychotherapy and a prominent voice in the fight against PTSD and other mental health issues.

Apart from its efforts to cultivate and develop psychedelic therapies to combat mental illness, Mydecine Innovations has launched a mental health-focused telehealth digital platform to assist therapy patients with psychedelic aftercare, track moods, and combat addiction. Mindleap, which is available on iOS and Android, is an AI-powered first-to-market digital health platform designed by clinical psychologists and neuroscientists that combines telehealth with mood, emotion, and habit tracking.

The Mindleap Health app allows Mydecine to increase access to much-needed mental health services, while at the same time gaining a piece of the growing telehealth industry, which is projected to become a $560 billion market by 2027.

FDA Gives Green Light to Psychedelic-Based Treatments for Depression

The psychedelic medicine market has come a long way in the last couple of years, with regulators jumping on board and fast tracking novel treatments based on a variety of psychedelics, and companies getting the go-ahead to do more in-depth research into psychedelics.

One such company making headway with its clinical research is neuro-pharmaceutical company Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF). Earlier this month, the company completed the Phase 1 LSD study in partnership with University Hospital Basel's Liechti Lab in Switzerland. MindMed is now preparing for Phase 2b of Project Lucy, which intends to evaluate the efficacy of LSD-assisted therapy for anxiety disorders and other medical conditions. The Phase 1 study used a double-blind, randomized, placebo-controlled, crossover design in 16 healthy participants to measure LSD dose-dependently induced subjective responses starting at microdoses (25 ug) up to experiential doses (200 ug).

Apart from preparing for Phase 2b, MindMed and University Hospital Basel are also actively filing patent applications on clinical trial data generated through its clinical trials and R&D.

In 2018, recently listed life sciences company Compass Pathways (NASDAQ:CMPS) was given breakthrough therapy designation from the FDA for its psilocybin therapy for treatment-resistant depression. The company has since been granted a US patent for its synthesized investigational formulation and is conducting Phase 2b trials.